Leased Veterinary Hospital
180 E Highland Dr Oconto Falls, WI 54154
180 E Highland Dr, Oconto Falls, WI, 54154
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For Sale
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Fee simple interest offered in a purpose-built 2005 veterinary hospital leased to CareVet.
Property Size5,682 SF
Price / SF$139.92
Days on Market98
Property Features for 180 E Highland Dr
General Information
- Standard status
- Active
- Size
- 5,682 SF
- Property subtype
- Special Purpose
Building Details
- Year Built
- 2005
Listing agency
Bang Realty
(888) 737-2264
Listed by
Brian Brockman · License #343837
Source
Crexi
Added: Apr 16 Updated: Jul 22 at 1:41AM Checked: Jul 22 at 1:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bang Realty
Investment Insights
Based on property information with market context.
A fee simple veterinary hospital constructed in 2005 comprises 5,682 square feet on a 1.94-acre parcel. The property is currently leased to CareVet, which acquired the practice in February 2024. The lease has approximately three years remaining within the initial five-year base period and includes four additional five-year renewal options.
The property is located along East Highland Drive, described as the city’s primary retail corridor. The remarks state traffic counts exceeding 5,000 vehicles per day and note nearby national and regional retailers such as Piggly Wiggly, NAPA Auto Parts, Dollar General, Burger King, and Vorpahl’s Business Solutions.
The listing further notes the property operates as the only animal hospital within Oconto Falls, with the nearest competing clinic located more than a 15-minute drive away. The lease structure provides 2% annual rental increases throughout the primary term and option periods.
The property is located along East Highland Drive, described as the city’s primary retail corridor. The remarks state traffic counts exceeding 5,000 vehicles per day and note nearby national and regional retailers such as Piggly Wiggly, NAPA Auto Parts, Dollar General, Burger King, and Vorpahl’s Business Solutions.
The listing further notes the property operates as the only animal hospital within Oconto Falls, with the nearest competing clinic located more than a 15-minute drive away. The lease structure provides 2% annual rental increases throughout the primary term and option periods.
Key Highlights
- 5,682 SF purpose‑built veterinary facility constructed in 2005 on a 1.94‑acre parcel
- CareVet‑leased hospital with a tenant acquired in February 2024
- Lease includes ~3 years remaining within the initial five‑year base period plus four 5‑year renewal options
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $122.7k | $21.60 |
| − Vacancy | −$8.0k | −$1.40 |
| EGI | $114.8k | $20.20 |
| − OpEx | −$45.9k | −$8.08 |
| NOI | $68.9k | $12.12 |
5,682 SF · lease $21.60/SF/yr · vacancy 6.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$983.6K
$860.7K – $1.15M
NOI $68,852 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.55M
NOI $92,730 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical centers
Similar For Sale Nearby
FAQs
What type of property is this?
Medical center - Fee simple interest offered in a purpose-built 2005 veterinary hospital leased to CareVet.
Where is this medical center located?
The property is located at 180 E Highland Dr Oconto Falls, WI.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 5,682 SF purpose‑built veterinary facility constructed in 2005 on a 1.94‑acre parcel; CareVet‑leased hospital with a tenant acquired in February 2024; Lease includes ~3 years remaining within the initial five‑year base period plus four 5‑year renewal options
